EUR/USD falls further, fresh 1-month lows

By FXstreet.com | July 16, 2014 AAA

FXStreet (Córdoba) - Following a calm phase during the Asian session, the EUR/USD resumed the downside and has fallen to fresh 1-month lows, dragged by broad USD strength.



Yesterday's disappointing ZEW data and Fed Yellen testimony unleashed a wave of EUR/USD selling that extended throughout the last sessions. The EUR/USD broke decisively below the 1.3560 area and stretched to a low of 1.3533 as pressure mounted over the last hours. At time of writing, the pair is trading at 1.3535, recording a 0.23% loss on the day and accumulating a 0.49% decline this week.



EUR/USD technical levels



In terms of technical levels, a break below 1.3535 would expose 1.3512 (Jun 16 & 12 lows) and 1.3502/00 (Jun 5 low/psychological level). On the other hand, resistances in case of bounces are seen at 1.3572 (Jul 16 high), 1.3600 (psychological level) and 1.3615 (21-day SMA).



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